Land and Buildings Transaction Tax (Scotland) Act 2013 (asp 11)

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Valid from 01/04/2015

PART 2 S Key concepts

CHAPTER 3 S Chargeable transactions and chargeable consideration

Contingent, uncertain or unascertained consideration S

18 Contingent consideration S

(1) Subsection (2) applies where the whole or part of the chargeable consideration for a transaction is contingent.

(2) The amount or value of the consideration is to be determined on the assumption that the outcome of the contingency will be such that the consideration is payable or, as the case may be, does not cease to be payable.

(3) In this Act, “contingent”, in relation to consideration, means—

(a) that it is to be paid or provided only if some uncertain future event occurs, or

(b) that it is to cease to be paid or provided if some uncertain future event occurs.